usatoday24
Revolled times for the live music scene in Spain. A few days ago we talked about how the most important festivals in the country They had to take positions Given the evidence of investments with Israeli interests in almost all of them. And now comes the news that Wegow has announced that it will go into a pre -bankruptcy of creditors, a situation that will only increase the power of the third leg of this bank: the almost monopoly for practical purposes of the Ticketmaster Ticker Panorama.
What happened. Last Wednesday, the Wegow Ticker company announced through a statement that entered a “Legal Process of Creditors“. It is not a bankruptcy ad, but the confirmation that the company is going through delicate economic moments. According to Wegow, the problems have been running from the pandemic: in 2020 The company had losses of one million eurosthat increased until they reached 2023, with debts of almost five million and one turnover more than four times less than the previous year.
The immediate impact. Virtually simultaneously to Wegow’s announcement, several groups jumped to networks to comment on their position in this aspect. With this preocconduct of creditors, Wegow has momentarily blocked the money of the tickets sold for the next concerts managed by its platform. For example, Bombai was celebrating Its tenth anniversary tour And they claim to have lost 80% of its income, but they will continue even if they not charge them, and will pass to another ticket for the rest of the concerts.
Clear accounts. Another band, twenty -one, revealed its Problems with “a ticket” Before Wegow made the situation public and also claimed that they would continue with the scheduled concerts. Other affected bands are Gorilla Flo, Aiko, fashion or animals. According to Manuel López, lawyer Consulted by ABC“The ticketera does not own that money (of the entrances) And they could not use it in their circulating, it has to have it sectioned by the concert, to return it to its customers (…) but if that money has used it to pay payrolls and arrive at the end of the month, there will be a problem there. “According to media such as Muzikalia, the affected groups could be”hundreds“
A controversial ticket. Wegow’s problems with promoters and artists go back back in time, and add to accusations of lack of transparency and poor management (the company had accumulating operational losses For six years). These accusations They are dating these days In the mouth of those affected, along with the doubts that the Wegow attitude raises Do not suspend, despite the ad, ticket sales They were already underway. Apart from that, his image had been questioning a year after one of his founders was involved in a Episode of harassment to an author In Madrid.
Ticket concentration. The sector of the sale and distribution of tickets in Spain presents a concentrated structure: large operators such as Ticketmaster, El Corte Inglés or Tickets.com share the market with a variety of local agents and minor platforms. The trend, however, is at concentration: for example, Serviticket was acquired by Ticketmasterand over time, the joint market share of the main actors can reach between 30% and 40% in volume.
All this happens in the context of a business that does not stop growing: in 2024, live music in Spain reached a historical turnover of 725.6 million euros, a growth of 25.32% compared to the previous year.
What tickets are left? The large events market is practically covered by the aforementioned, which are continuously involved in doubts about their business practices (entrances.com is low Under administrative investigation for little transparent policies in the application of surcharges, and the practices of Ticketmaster With the variable price of tickets Chained a controversy after another). But companies such as Oratrex, Says either Enterthat fight to get a small portion of the most appetizing cake of the directs in Spain.
Header | Photo of Paul Chambers in Unspash.
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